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URA briefed on proposed bond package to fund City Center; board to meet again for document review
Summary
Legal and finance staff outlined a proposed municipal bond issuance — including refinancing of prior bonds — to fund a new combined City Center (city hall, fire, police, rec amenities). The URA would issue bonds backed by 'splash' funds and the city’s backing; staff requested a special URA meeting to review documents before City Council action.
Forest Park — URA legal and financial advisors presented a financing plan to support construction of a consolidated City Center that would house city hall, the fire and police departments and parks-and-recreation amenities.
Staff described a multi-part financing structure that would include a new bond issuance and the refinancing of an outstanding 2021 bond…
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